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Our Bureau

Mumbai , March 31

Gammon Infrastructure Projects Ltd (GIPL), a part of Gammon India Ltd, has filed its Draft Red Herring Prospectus with the Securities and Exchange Board of India (SEBI) for its forthcoming initial public offering.

The company plans to enter the capital market with a public issue of 2.71 crore equity shares of Rs 10 each for cash at a premium to be decided through a book-building process. The issue will constitute 17.50 per cent of the fully diluted post-issue equity capital and with the green shoe option it would amount to 19.61 per cent of the post-issue equity capital.

GIPL, an infrastructure development company, is currently developing roads, bridges, ports and hydro power projects and has identified the following areas for project development and infrastructure investment: urban infrastructure, airports, special economic zones, water and waste water management, railways, power transmission lines and agricultural infrastructure.

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